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through a difficult decade, especially equity investors in the united states have suffered some real turmoil in their returns, and they've been bombarded by these messages that generate fear. they're legitimate concerns. the world is a very uncertain place. so we're telling -- >> who's buying -- that's the question, who's doing the buying right now? >> i don't think i have a perfect answer for you on that. i can't identify all the buyers out there for you. i'm sorry. >> okay. >> are they chasie ining growth? i mean, yours for a long time has been a growth shop. just the last several weeks we're seeing managers chase some of those growth companies. where's the money moving, the money that you are seeing moving? >> well, growth has outperformed value this year. we've seen it has happened in stocks that are the larger, better known names. so what we're seeing is that as the fear translates through equity investing, those folks who are buying equities tend to buy the larger, better known names. those names have done quite well relative to the rest of the indices. >> so let's talk politic
of the world. the ones like mexico and latin america are tied more directly to the united states. >> so you must believe that they're going to fix the fiscal cliff if you think things will be better next year. >> well, we think they'll muddle through eventually. our best guess is they'll kick the can down the road between now and the new congress and administration and the pressure will be on that at some point they'll work things out. hopefully in a fairly reasonable manner. i mean, it's another two years for the next election and four years until the next presidential election. so maybe they've got a little incentive to sit down and talk now. >> yeah, wouldn't that be nice? >> from your mouth to god's ears. >> jim bianco, what are you looking at right now ? what are you buying? >> i'm really looking at the election. i think this market has been all about monetary stimulus for the last two years. the rally we've had since june has been about qe-3. the concern we've had in the last few weeks other than earnings has been a romney presidency, means bernanke gets replaced. that's what's drivin
. they are committed to reducing that premium, which makes certain bonds attractive. >> here in the united states, you recommended tips, which is you buy a treasury, except it's protected from inflation. the house is worried about inflation. how badly? >> we are worried. we think if you are to look over a period of three to five years, inflation is more likely to be near three than the two target. we call it the reverse volcker moment in the sense that the fed has clearly indicated that its dual mandates are not equal. today, for good reasons, the employment mandate is higher than the inflation mandate and investment approach reflects that. >> mohammed, we're just near new highs, but obviously we're having trouble getting through to them. some people are arguing that the markets are going to do fairly well going up to the election since governor romney looks like he's doing better than people thought. what's your thought short term in the next month for the election and going into the end of the year? and i'm talking about the stock mark. >> so in terms of the elections, yes, governor romney is doing
in the united states, qe3 recently announced, central banks active all over the place, looking to stimulate economies? as long as that is active, can we avoid a more worsening problem? >> here's the problem. central banks are being asked to do two very difficult things. one is to limit downside risk completely and the second is to promote growth. the problem is now that the burden is being put entirely on central banks, without other policies, fiscal policies, financial sector reforms, supporting central bank policies, central banking is not able to get traction in terms of supporting growth. it is limiting downside risk. right now i think that's the best we can hope for from central banks around the world. to but a floor on risk. supporting growth, i don't think central banks can do very much. >> your assessment of what eswar just said, are we going into a global recession? >> no, i don't think we're going into a global recession. i agree with what he has said about the weakness in the global economy. also a little about the u.s.'s sort of different position here. but i think the key thing
still have unemployment that's still way to high in the united states. i think senator schumer hurt the process because it's typical washington gamesmanship trying to put pressure on the gang of eight, a bipartisan group of republicans and democrats that are trying to solve this problem in a bipartisan way, and he's out there trying to position the group and trying to put pressure on them from the outside. i think -- >> david, i didn't understand that at all. why is he talking at all at this point? >> right. >> david? >> well, just to be clear, the gang of eight doesn't have a proposal yet, but it's likely to look similar -- >> that's not the spirit of the question. they're working on one. already he's trying to interfere before they get started, right? >> it's likely to look like the gang of six proposal back in july. that was an unacceptable proposal. there was almost $3 billion in spending cuts and just $1 trillion in tax hikes. after this big, long binge of low tax rates, the bill comes due, and the gang of six, now the gang of eight, wants the middle class to largely pick up th
'm not saying you ignore them. look, one has to come to the realization that although the united states is getting better at a sub-par rate, this is not a normal recovery, the key thing is we are recovering. find me another economy in the world that has gotten better in the last 12 months. >> but are you starting to see a different slowdown right now? the third quarter earnings, we keep hearing the same thing from big companies. a slowdown that started in the fall here and revenues come in light almost uniformly. >> that's right. my whole argument is the rest of the world is much sicker than want united states. the more exposure you have to the rest of the world, the more likely it is you're going to run into trouble. look at the companies having trouble. they're all having trouble because they're overseas operations. the profit cycle is already starting to turn up. >> do you worry this market has been trading so much on central bank easing and when we actually do look at the focus on fundamentals it trades down? that, in fact, the broad, you know, backdrop is actually quite anemic? >>
to strike the united states. so far it's maintained enough of its hurricane characteristics that it's going by the name hurricane sandy. it's still acting like a hurricane at this hour with winds at 190 miles an hour. let's check it out on the radar loop. you can just about see where the center is there. if you look all the way on the right-hand side side of the screen, you can see there is kind of a point where it starts to not show anything anymore. almost the circulation, kind of semicircle right there, showing you that there is some sort of circulation right there trying to show up. now, it is still very organized, even though it's dry on the east side, according to this radar. it's still a impact, almost bomb-like characteristic in terms of the way it looks in atlantic city. the new jersey shoreline bearing the brunt of this but effects felt clear to the north. wind under control, kind of. gusting 50 to 60 miles an hour from cape cod, long island, down the new jersey shoreline. however, what's likely to happen late in the storm is we're expecting that the southeast winds on the far sid
a guarantee relative to the future cost of purchasing power in the united states. it has a real yield and it protects you against inflation. real assets like gold and, you know, tips and perhaps municipal bonds, which are cheap and are s a -- assets for the future. >> bill, glad you could join us. >> all right. we're in the final stretch of trading. we have a market holding on to a pretty good rally. dow industrial is up 103 points. financials leading the way. >> bill gross says the markets have plateaued, and they've plateaued again today. this guy is incredible. >>> is citi ceo vikram pandit's shocking departure a warning of things to come in the financial sector? kevin warrish and robert zelic will weigh in on that coming up. >>> then citigroup's largest individual shareholder giving his support to vikram pandit when i spoke to him earlier this year. >> the group under the leadership of vikram is doing really, really well. vikram was able to stabilize the company. >> and today he told me that vikram steps away with citi at its peak. so why did pandit resign abruptly? is more of my
. they got a boost in first-quarter profits powered by strong sales in the united states and china. >> it saw a 40% jump in year over year sales in china. you wonder, can the momentum keep going? especially with a slowdown here in the united states again. joining us now is the chairman and ceo lou frankfurt. is it your category? is it the geographic region you serve? why are your numbers so much better than others that are turning in disappointing revenue right now? >> we're speaking about china now? >> china and u.s. >> with regard to china, we're a position that's an accessible luxury brand, which means our price points are 40 to 60% lower than the average european brand. we are much more in reach for the emerging middle class. consumers tell us that 90% who own coach products express a positive intention to repurchase. so we're finding acceptance everywhere, not just in our primary china cities but in tier two and tier three cities as well. >> you've expanded so much around the world, particularly in china. what's your plan now? given the backdrop of the economy. we know things are slow, e
performers in the united states. >> but what about the way it was handle d? >> it's unseemly, sure, that's right. it should have been a decent transition but something was a catalyst and we still don't know the full story. >> todd, what do you think of how it was handled? >> it wasn't handled right. it's clear as day about that. but pandit also had a complicated tenure with the acquisition, $800 million in an all cash deal that just vested recently because it was a five-year investing schedule. you have to question what the culture was like at citi during this entire time. pandit went into a very stressful situation but knew he wasn't going to take on that much risk. you really needed a recovery specialist, turnaround specialist and clearly mike oneill is that person. >> meredith whitney was on this week and said no ceo can fix citi. listen to what she said. >> i don't know that anybody knows michael corbit outside of citi. anyone can go into that slot and it's mike o neill's agenda. >> the expectation is that the ceo is running things yet it looks like it's really the chairman. >> i dis
outside the united states. we want to get his take on europe for sure. oracle has been a star performer. no doubt about it. stock up 25% year to date. the problem is you have upstarts coming trying to eat their lunch in a number of ways trying to take market share with big data because you've got so much data that has changed from tradition data to things like smart swpho and biotech data. they need to get the market share back. we'll see if he'll be able to do it. >> see you in little bit, top of the hour for the second hour of "the closing bell." let you get ready for that. >>> meantime, defensive nature to the sectors that did well today led by consumer staples and health care, energy, then the financials that were leading earlier in the session. brian belski, you don't consider your play a defensive play that you like right now. in the categories where you like the dividends, where do you like? consumer staples? where do you play it? industrials? >> we're overweight staples, industrials, tech and energy because those are the companies with great cash flow, great earnings consistency
of you point out that a majority of that cash pile is located outside the united states. so that can complicate things to some degree, right, brian? >> that's correct. it's sitting abroad right now. it's a little over $60 billion in cash. it earns very little interest. apple only pays about a 5% tax rate on that. if that were to come into the u.s., they'd pay the standard 35% u.s. tax rate. it's not doing a lot. you know, they do spend that money in the supply chain and on capital expenditures abroad. >> so with all the cash, you think they have room, david, to raise the dividend, buy back stock, tell us what you're expecting. they have been raising the d divide dividend, right? certainly more so than other companies in technology. >> they just initiated the dividend, but they should be raising it. their payout ratio is pretty low. they can raise it up to 50% of free cash flow generation. they're going to generate over $40 billion of cash this year, so they have plenty of excess cash. their balance sheet is, as you said, $117 billion. they have a war chest if they want to do acquisit
economic growth. that's why lowering taxes is the thing to do. it attracts more business back to the united states. >> ddiana, how did that work ou during the bush administration? we lowered taxes, we got the same argument you're giving now. by the way, we'll have plenty left over to reduce the debt. that didn't work out so well. that theory, lower taxes for the rich, that theory does not hold water after the last 20 years. it's kind of impressive that you keep spouting it though. >> actually, there are reports and studies out there that show when you lower taxes, there are studies out there and even a former head of the economic committee in the obama administration, her and her husband came out with reports and studies years ago. when you lower taxes, it encourages businesses to put more money into the economy and hire and individuals to put more money into the economy and spend. [ overlapping speaking ] >> all else being equal, lower taxes are definitely better than higher taxes. i don't dispute that. nobody disputes that. all else isn't equal. if you finance those tax cuts for the rich
think there's enough offset. you think the renewed strength in housing in the united states is enough? >> for some companies, it will be enough. for companies like caterpillar, it may not be. that's a fair point. about half of caterpillar's operating profits now come from mining equipment, which although directly not sold to china, it is sold into areas like australia and south america as a result of commodity prices. the lower commodity prices that we've seen because of china's slowdown has led to delays in miner's capital expenditure plans. >> stacey, is there anything you'd buy right now in the categories we've been talking about? >> i think there are a few companies that have big expos e exposure? europe like ralph lauren. but they don't have the exposure to the asian tourism. lastly, coach. it was really a self-inflicted couponing problem in their factory outlet. i think that's a stock to look at. certainly that's an underdog here. micha micha michael. >> explain what a couponing problem is. >> they took it away. >> sorry about that. they did. what coach did in their factory out
the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> welcome back. microsoft has not had the best track record when it comes to music, that's for sure. the company is now doubling down on the biggest music venture yet. julia with the story. >> reporter: we remember the zune disaster but now microsoft is launching four different music services under the umbrella of xbox music, tying them to its successful and popular video game console brand, as it builds an entertainment ecosystem to take on apple. xbox's global catalog of 30 million songs will be available for free streaming with occasional ads, on xbox with computers and tablets
in the united states and the outright monetary transactions by the european central bank. all of those things have led people to basically give a higher multiple to the earnings. that's what's happened. that was our weighted average. turns out we were too low with our bullish part, which was up only 15%. probably should have been higher. that having been said, the market's going to continue to be driven by earnings. you see this over and over. finally, last night's al smith dinner, both candidates plus the cardinal said the best looking person there was maria boo bartiromo. >> thank you. >> that was true. >> i enjoyed that tremendously. sitting right behind president obama and mitt romney was very interesting. >> trust me, we were not looking at them. >> thank you. all right. you are amazing. christian, let's talk investing here. a market down 200 points. are you a seller or buyer? >> buy into it. this earnings season is still going quite well. i know we've had two surprises, but on the top line growth. this shouldn't have been too much of a surprise because we knew we were going in to a weak
the bell, maria's exclusive with allstate's ceo tom wilson as the eastern third of the united states tries to recover from one of the most destructive storms on record. will they pay the claims without a hassle? we'll find out, coming up. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. >>> all right, more on the new traffic restrictions announced for
Search Results 0 to 16 of about 17